ASML posted better than expected third quarter earnings

Analysts surveyed by Refinitiv had forecast third-quarter net revenue of ASML, one of the world’s largest suppliers of computer chip equipment, to come to € 609m.

The semiconductor maker ASML on Wednesday reported higher than expected 627m euros in quarterly earnings and bookings, driven by solid demand for the 5G telecom network and artificial intelligence applications.

The company’s net income was 680m euros last year.

ASML posted sales of 3 billion euros and predicted that its sales in the fourth quarter would come to 3.8 billion euros.

The company said it had received bookings for 23 of its most advanced lithography systems, which cost about 100m euros each. Lithography is at the heart of the funnel making process, using light rays to design the chip circuit.

ASML said its newest technology using Extreme Ultraviolet Beam, or EUV, is going into the flow.

Chief Executive Peter Wennink said in a statement that “This strong order entry confirms EUV’s adoption of high volume production for Logic and Memory chips.”

“We continue to see 2019 as a year of growth.”

ASML clients include all major manufacturers, especially Samsung and TSMC heavyweights

ASML shares closed Tuesday at an all-time high of 243.2 euros, and gained more than 75% so far this year./Investing.com

Stay updated with INFOEUROPEFX to find out the latest news about technology.